Vala Inc. — Regulatory Filings 2021

Aug 6, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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51 CREDIT CARD INC. 51 信用卡有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2051)

REDUCTION IN LOSS

This announcement is made by 51 Credit Card Inc. (the “ Company ”, together with its subsidiaries, the “ Group ”) pursuant to the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Based on the preliminary unaudited consolidated management accounts of the Group for the six months ended 30 June 2021 (the “ 2021 Interim Period ”) and information currently available to the board (the “ Board ”) of directors (the “ Directors ”) of the Company, the Board wishes to inform shareholders (“ Shareholders ”) and potential investors of the Company that the consolidated loss attributable to the owners of the Company for the 2021 Interim Period is expected to decrease significantly to the range from approximately RMB153.0 million to RMB203.0 million from approximately RMB730.8 million for the corresponding period in 2020.

The expected significant decrease in the consolidated loss for the 2021 Interim Period is primarily due to (i) the rebound in business scale of the credit facilitation business, which resulted in an increase in revenue; (ii) the impact of the complete exit of the P2P business and the pandemic of the coronavirus disease which have been weakened substantially, and through our adoption of stringent risk control measures, the delinquency rate of credit facilitation assets maintained at a low level, which led to a significant decrease in the amount of expected credit loss under International Financial Reporting Standards 9; and (iii) partially offset by the impairment loss on license under intangible assets of approximately RMB148.9 million accrued with reference to the market prices in the same period.

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The information contained in this announcement is solely based on the preliminary assessment by the Directors upon its review of the unaudited consolidated management accounts of the Group and the currently available information to the Board which have not been audited nor reviewed by the Company’s auditor and audit committee. The unaudited interim results of the Group for the 2021 Interim Period will only be ascertained after all the relevant results and accounting treatments have been finalised. Shareholders and potential investors of the Company are advised to refer to the details of the Company’s interim results announcement for the 2021 Interim Period which is expected to be published on or before 31 August 2021.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By order of the Board 51 Credit Card Inc. Sun Haitao Chairman and Executive Director

6 August 2021

As at the date of this announcement, the executive Directors are Mr. Sun Haitao, Mr. Zheng Haiguo and Mr. Zhao Ke; the non-executive Directors are Ms. Zou Yunli and Mr. Yu Jin; and the independent non-executive Directors are Mr. Wong Ti, Mr. Ye Xiang and Mr. Xu Xuchu.

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